Lee Jae-yong Has Not Received a Salary from Samsung Electronics Since 2017
Cho Hyun-sang, Vice Chairman of HS Hyosung, Received a Total of 32.4 Billion KRW Last Year
Second Highest Was Lee Jae-hyun, Chairman of CJ Group, with 19.37 Billion KRW
Last year, the highest-paid business leader in South Korea was Cho Hyun-sang, Vice Chairman of HS Hyosung.
According to the compilation of the '2024 Business Reports' disclosed by major companies on the 18th, Vice Chairman Cho received a total of 32.382 billion KRW from HS Hyosung and Hyosung last year.
This amount is approximately 5.7 times higher compared to the 5.7 billion KRW he received from Hyosung in 2023.
Vice Chairman Cho leads HS Hyosung, which was established last July through the spin-off of Hyosung. The severance pay and special merit bonus he received from Hyosung are included in his compensation, placing him at the top of the business sector's annual salary rankings.
Specifically, from Hyosung, he received a total of 27.992 billion KRW, including a salary of 2 billion KRW, a bonus of 300 million KRW, a special merit bonus of 8.5 billion KRW, and retirement income of 17.192 billion KRW.
Additionally, Vice Chairman Cho received 4.39 billion KRW from the newly launched HS Hyosung, consisting of a salary of 2.375 billion KRW and a bonus of 2.015 billion KRW.
Hyosung Group Chairman Cho Hyun-joon received a total of 9.183 billion KRW in compensation from Hyosung last year. This is an increase of 2.342 billion KRW (25.5%) compared to the previous year's 6.841 billion KRW.
His salary increased from 4.8 billion KRW to 5.8 billion KRW, and reflecting annual performance improvements, his bonus rose from 2.04 billion KRW to 3.383 billion KRW.
The second highest-paid was Lee Jae-hyun, Chairman of CJ Group. He received 15.63 billion KRW from the holding company CJ and 3.64 billion KRW from CJ CheilJedang, totaling 19.37 billion KRW.
However, he did not receive any compensation from CJ ENM, which had poor performance, starting from the first half of last year.
Chairman Lee's compensation last year increased by 95% from 9.936 billion KRW the previous year. In particular, the compensation he received from CJ increased by about 11 billion KRW due to the inclusion of long-term incentives.
However, last year's compensation was less than the 22.136 billion KRW he received in 2022.
▲Shin Dong-bin, Chairman of Lotte Group
Shin Dong-bin, Chairman of Lotte Group, received a total of 17.8 billion KRW in compensation from four affiliates last year.
The compensation by company was 5.972 billion KRW from Lotte Holdings, 3.8 billion KRW from Lotte Chemical, 1.964 billion KRW from Lotte Shopping, 2.65 billion KRW from Lotte Wellfood, and 3.493 billion KRW from Lotte Chilsung Beverage.
The total compensation from these five companies increased by 119 million KRW (0.67%) compared to 17.715 billion KRW the previous year.
Chairman Shin also receives salaries from Hotel Lotte and Lotte Property & Development, unlisted companies whose business reports have not yet been disclosed.
Kim Seung-yeon, Chairman of Hanwha Group, received a total of 13.98 billion KRW in compensation from four affiliates. This is an increase of 3.18 billion KRW (29.4%) compared to the total compensation of 10.8 billion KRW the previous year.
Last year's compensation by company was 4.32 billion KRW from Hanwha Systems, 4.2 billion KRW each from Hanwha Corporation and Hanwha Solutions, and 1.26 billion KRW from Hanwha Aerospace.
Kim Dong-kwan, the eldest son of Chairman Kim and Vice Chairman of Hanwha Group, received compensation of 9.2 billion KRW last year, similar to the previous year.
Vice Chairman Kim received 3.06 billion KRW each from Hanwha Corporation and Hanwha Aerospace, and 3.08 billion KRW from Hanwha Solutions.
Jung Eui-sun, Chairman of Hyundai Motor Group, received a total of 11.518 billion KRW in compensation from affiliates last year. This is a 5.6% (683 million KRW) decrease compared to the previous year's 12.21 billion KRW.
By company, he received 7.087 billion KRW from Hyundai Motor and 4.431 billion KRW from Hyundai Mobis.
Cho Won-tae, Chairman of Hanjin Group, received a total of 10.21273 billion KRW in compensation last year, including 5.103 billion KRW from Korean Air, 4.15373 billion KRW from Hanjin KAL, and 956 million KRW from Jin Air.
Compared to 2023, compensation from Korean Air increased by 30.3%, while compensation from Hanjin KAL decreased by 2%. Starting last year, he began receiving compensation from Jin Air, resulting in a total increase of 25.2%.
Gu Kwang-mo, Chairman of LG Group, received 8.177 billion KRW as CEO of LG Corporation last year, a 1.8% decrease compared to the previous year.
Jung Yong-jin, Chairman of Shinsegae Group, received 3.609 billion KRW from E-Mart last year, a 2.4% decrease compared to 2023.
Chey Tae-won, Chairman of SK Group, received 3.5 billion KRW from SK Corporation. Chairman Chey also receives compensation from SK Hynix, whose business report has not yet been disclosed.
Lee Jae-yong, Chairman of Samsung Electronics, has not received a salary from Samsung Electronics since 2017.
Among professional managers, Kyung Kye-hyun, who stepped down as head of semiconductors last year, received a total of 8.036 billion KRW, including severance pay of 5.272 billion KRW, making him the highest-paid employee at Samsung Electronics.
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